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Technology Stocks : All About Sun Microsystems

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To: JavaGuy who wrote (17485)	6/30/1999 4:20:00 PM
From: Charles Tutt	Read Replies (2) of 64865

I wrestled with that question at the end of the (trading) day, and came to the same conclusion (i.e. that the rally may continue). Opposing forces - Suggesting a drop: Reflex after big rise today/regression to mean Relatively rich valuations Suggesting a rise: Fed neutral bias not fully discounted Cash on sidelines First day of new quarter reversal of window dressing Upcoming earnings announcements Rising interest rates in Japan (currency effects) FWIW, I did the unthinkable and bought some MSFT during the dip this a.m.; my thinking was that if the Fed were to do pretty much what they later actually did, the market in general would rally, and the more liquid stocks (nothing to do with value) would benefit most. As it turns out, I think I would have done slightly better to pick up more SUNW. At any rate, I expect to be back out of MSFT fairly soon, because I only intend it as a way to take advantage of what I see as a short-term phenomenon. All JMHO, of course (even more than usual!)

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